St. Clair Advisors LLC Takes $818,000 Position in FedEx Co. (NYSE:FDX)

St. Clair Advisors LLC bought a new stake in FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,908 shares of the shipping service provider’s stock, valued at approximately $818,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Transce3nd LLC purchased a new position in shares of FedEx during the fourth quarter worth $26,000. City Holding Co. acquired a new position in FedEx during the fourth quarter worth about $28,000. Kentucky Trust Co acquired a new position in FedEx during the fourth quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the 4th quarter valued at about $28,000. Finally, Activest Wealth Management acquired a new position in FedEx in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Truist Financial decreased their price target on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. UBS Group dropped their price objective on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Raymond James decreased their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $297.63.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.87% of the company’s stock.

FedEx Stock Down 0.8%

Shares of NYSE:FDX opened at $229.34 on Monday. The stock’s 50-day moving average is $222.96 and its 200 day moving average is $256.41. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $54.95 billion, a PE ratio of 14.62, a P/E/G ratio of 1.11 and a beta of 1.36. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 earnings per share. Sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.